Pension: Niger govt now contributes 10.5 prr cent vounterpart funding

Niger State Government has increased its counterpart funding of the Contributory Pension Scheme (CPS) by 3 percent in furtherance of her commitment to the welfare  of her workforce.
Government now contributes 10.5 percent as against the 7.5 percent earlier approved in 2007 when the scheme started, while the employees contribution of 7.5 percent is maintained.
The new regime was contained in the amended bill establishing the Contributory Pension Scheme for employees in the public service in Niger State and other matters connected there with 2017 which was signed into law last week by Governor Abubakar Sani Bello.
The increase in percentage contribution by the government was aimed at increasing the saving base of each employee at retirement.
Under the new scheme, only employees engaged in 1993 till date are eligible to operate the CPS while those employed earlier are to remain in the old pension scheme.
However, new employees engaged after the signing into law the amended pension Act would be required to contribute 8 percent while government is t make avaliable 10 percent.
It will be recalled that Governor Sani Bello assured the state civil service of a better welfare package when he signed into law a bill establishing the Contributory Pension Scheme for employees in public sector of Niger State Act of 2017.
He reaffirmed his administration’s commitment to ensuring that the welfare of its work force is given priority attention through prompt payment of salaries of workers in the state.
According to the governor, “from time to time we will continue to make necessary adjustment to improve on the quality of life of our civil servants. They need to be properly taken care off. Government will continue to find ways to improve their lots”.
He also assured retiring civil servants, both at the state and local governments levels of prompt payment of their terminal benefits, stressing that his administration will not deny or hold on to any officer who had put in 35 years of service their retirement benefits.
” Our retiring civil servants have given 35 years of their lives to the service of the state, government must reduce their hardship by ensuring payment of their pension. We have to ensure everyone is paid as at when due,” the governor assured.

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